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Van ECK Associates Corp lowered its stake in SunPower Co. (NASDAQ:SPWR) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,645 shares of the semiconductor company’s stock after selling 16,509 shares during the quarter. Van ECK Associates Corp’s holdings in SunPower were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SPWR. Vanguard Group Inc. lifted its holdings in shares of SunPower by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after buying an additional 580,984 shares during the last quarter. Vanguard Group Inc lifted its holdings in SunPower by 10.2% in the 3rd quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the last quarter. Northern Trust Corp lifted its holdings in SunPower by 5.6% in the 2nd quarter. Northern Trust Corp now owns 752,849 shares of the semiconductor company’s stock worth $5,774,000 after purchasing an additional 39,883 shares during the last quarter. Rock Point Advisors LLC lifted its holdings in SunPower by 22.0% in the 4th quarter. Rock Point Advisors LLC now owns 728,225 shares of the semiconductor company’s stock worth $3,619,000 after purchasing an additional 131,285 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in SunPower by 14.1% in the 4th quarter. California Public Employees Retirement System now owns 684,902 shares of the semiconductor company’s stock worth $3,404,000 after purchasing an additional 84,826 shares during the last quarter. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SPWR opened at $6.51 on Friday. SunPower Co. has a fifty-two week low of $4.55 and a fifty-two week high of $10.00. The firm has a market capitalization of $910.51 million, a price-to-earnings ratio of -7.40 and a beta of 2.30. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.13. The firm had revenue of $525.40 million for the quarter, compared to analysts’ expectations of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The business’s revenue was down 36.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, research analysts predict that SunPower Co. will post -1.11 EPS for the current fiscal year.

Several research firms recently weighed in on SPWR. BidaskClub upgraded SunPower from a “strong sell” rating to a “sell” rating in a report on Thursday, March 21st. Bank of America lowered SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 target price for the company. in a report on Friday, February 15th. Credit Suisse Group lowered SunPower from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $7.00 in a report on Friday, February 15th. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Barclays started coverage on SunPower in a research report on Monday, January 7th. They set an “underweight” rating and a $4.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.04.

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About SunPower

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

Further Reading: How are institutional investors different from individual investors?

Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)



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